Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Kaipin Kui was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: JP¥376 (down from JP¥427 in FY 2025). Revenue: JP¥192.6b (up 6.4% from FY 2025). Net income: JP¥28.1b (down 13% from FY 2025). Profit margin: 15% (down from 18% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 6.9%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Live News • May 15
Tsumura Lifts Dividend Targets as Sales Grow and Profit Faces Pressure Tsumura reported a 6.4% rise in sales for fiscal 2026, while operating profit and net profit attributable to owners declined due to ongoing cost pressures.
The company raised its full-year dividend to ¥147 per share for fiscal 2026, citing stronger-than-expected earnings.
Management plans to lift the dividend further to ¥158 per share in fiscal 2027 and is targeting a medium-term increase in its dividend-on-equity ratio from 3.6% to 5% by fiscal 2031.
The key takeaway is that Tsumura is leaning into a progressive dividend policy even as profit remains under pressure, which puts shareholder returns at the center of its capital allocation priorities.
You should keep an eye on whether cost controls and margin trends eventually line up with the more generous dividend path the company is laying out toward 2031. Announcement • May 14
Tsumura & Co., Annual General Meeting, Jun 26, 2026 Tsumura & Co., Annual General Meeting, Jun 26, 2026. New Risk • Apr 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥76.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.4%). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: JP¥143 (vs JP¥119 in 3Q 2025) Third quarter 2026 results: EPS: JP¥143 (up from JP¥119 in 3Q 2025). Revenue: JP¥55.3b (up 16% from 3Q 2025). Net income: JP¥10.7b (up 18% from 3Q 2025). Profit margin: 19% (in line with 3Q 2025). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Announcement • Feb 04
Tsumura to Consider Acquisition of Yomeishu Seizo’s Medical Liqueur Unit Amid Privatization Push Tsumura & Co. (TSE:4540) is considering acquiring Yomeishu Seizo Co.,Ltd.'s (TSE:2540) mainline Yakuyo Yomeishu medical liqueur business, it was learned 03 February 2026. As both Tsumura and Yomeishu Seizo use crude drugs for their products, the possible deal would help the Japanese companies improve operational efficiency partly through joint procurement of ingredients, informed sources said. The two companies are apparently discussing details, including the acquisition price, according to the sources. The possible business sale comes as Yomeishu Seizo is considering going private at a time when sales of Yakuyo Yomeishu continue falling, the sources said. On 03 February 2026, Yomeishu Seizo, which is listed on the Tokyo Stock Exchange's top-tier Prime section, said that it is in talks with Japanese investment firm Yuzawa, its top shareholder, on specific ways to carry out the plan to go private, and is considering a business sale at the same time. But it added that nothing has been decided at this point. Yomeishu Seizo previously gave the preferential negotiating right to U.S. investment fund KKR over share acquisition related to the planned delisting. But the company canceled the right later in the face of opposition from the largest shareholder. Declared Dividend • Dec 06
First half dividend of JP¥76.00 announced Shareholders will receive a dividend of JP¥76.00. Ex-date: 30th March 2026 Payment date: 30th June 2026 Dividend yield will be 3.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 05
Tsumura & Co. to Report Q3, 2026 Results on Feb 06, 2026 Tsumura & Co. announced that they will report Q3, 2026 results on Feb 06, 2026 Reported Earnings • Nov 12
Second quarter 2026 earnings: EPS and revenues exceed analyst expectations Second quarter 2026 results: EPS: JP¥109 (up from JP¥83.26 in 2Q 2025). Revenue: JP¥46.8b (up 3.1% from 2Q 2025). Net income: JP¥8.11b (up 28% from 2Q 2025). Profit margin: 17% (up from 14% in 2Q 2025). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 05 December 2025. Payout ratio is a comfortable 40% but the company is paying out more than the cash it is generating. Trailing yield: 3.7%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.7%). Announcement • Sep 03
Tsumura & Co. to Report Q2, 2026 Results on Nov 10, 2025 Tsumura & Co. announced that they will report Q2, 2026 results on Nov 10, 2025 Reported Earnings • Aug 07
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: JP¥58.15 (down from JP¥147 in 1Q 2025). Revenue: JP¥43.1b (down 1.4% from 1Q 2025). Net income: JP¥4.37b (down 61% from 1Q 2025). Profit margin: 10% (down from 26% in 1Q 2025). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Jul 23
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Outside Director Tadashi Okada was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 09
Final dividend of JP¥68.00 announced Dividend of JP¥68.00 is the same as last year. Ex-date: 29th September 2025 Payment date: 5th December 2025 Dividend yield will be 3.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (252% cash payout ratio). The dividend has increased by an average of 7.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Reported Earnings • Jun 29
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥427 (up from JP¥220 in FY 2024). Revenue: JP¥181.1b (up 20% from FY 2024). Net income: JP¥32.4b (up 94% from FY 2024). Profit margin: 18% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 2.2%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.05% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (252% cash payout ratio). Announcement • Jun 03
Tsumura & Co. to Report Q1, 2026 Results on Aug 05, 2025 Tsumura & Co. announced that they will report Q1, 2026 results on Aug 05, 2025 Price Target Changed • May 24
Price target decreased by 12% to JP¥4,758 Down from JP¥5,426, the current price target is an average from 5 analysts. New target price is 36% above last closing price of JP¥3,496. Stock is down 9.6% over the past year. The company is forecast to post earnings per share of JP¥373 for next year compared to JP¥427 last year. Major Estimate Revision • May 20
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥196.9b to JP¥188.6b. EPS estimate also fell from JP¥414 per share to JP¥325 per share. Net income forecast to shrink 25% next year vs 0.5% growth forecast for Pharmaceuticals industry in Japan . Consensus price target down from JP¥5,426 to JP¥5,238. Share price was steady at JP¥3,559 over the past week. Reported Earnings • May 13
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: JP¥427 (up from JP¥220 in FY 2024). Revenue: JP¥181.1b (up 20% from FY 2024). Net income: JP¥32.4b (up 94% from FY 2024). Profit margin: 18% (up from 11% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 2.2%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.6%). Announcement • Mar 04
Tsumura & Co. to Report Fiscal Year 2025 Results on May 12, 2025 Tsumura & Co. announced that they will report fiscal year 2025 results on May 12, 2025 Announcement • Feb 20
Tsumura & Co. (TSE:4540) announces an Equity Buyback for 1,465,000 shares, representing 1.91% for ¥5,000 million. Tsumura & Co. (TSE:4540) announces a share repurchase program. Under the program, the company will repurchase up to 1,465,000 shares, representing 1.91% of its issued share capital, for ¥5,000 million. The purpose of the buyback is to strengthen shareholder returns and improve capital efficiency. The program will expire on August 29, 2025. As of January 31, 2025, the company had a total of 76,528,060 shares in issue(excluding treasury stock) and 230,302 shares in treasury. Reported Earnings • Feb 08
Third quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2025 results: EPS: JP¥119 (up from JP¥94.10 in 3Q 2024). Revenue: JP¥47.7b (up 18% from 3Q 2024). Net income: JP¥9.07b (up 27% from 3Q 2024). Profit margin: 19% (up from 18% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 28%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Announcement • Dec 06
Tsumura & Co. to Report Q3, 2025 Results on Feb 06, 2025 Tsumura & Co. announced that they will report Q3, 2025 results on Feb 06, 2025 Declared Dividend • Dec 06
First half dividend of JP¥68.00 announced Shareholders will receive a dividend of JP¥68.00. Ex-date: 28th March 2025 Payment date: 30th June 2025 Dividend yield will be 2.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not covered by cash flows (dividend approximately 12x free cash flows). The dividend has increased by an average of 7.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 09
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: JP¥83.26 (up from JP¥61.52 in 2Q 2024). Revenue: JP¥45.4b (up 19% from 2Q 2024). Net income: JP¥6.32b (up 35% from 2Q 2024). Profit margin: 14% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 11%. Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 10% per year. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥68.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 05 December 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.3%). Announcement • Aug 27
Tsumura & Co. to Report Q2, 2025 Results on Nov 07, 2024 Tsumura & Co. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 07
First quarter 2025 earnings released: EPS: JP¥147 (vs JP¥56.87 in 1Q 2024) First quarter 2025 results: EPS: JP¥147 (up from JP¥56.87 in 1Q 2024). Revenue: JP¥43.7b (up 18% from 1Q 2024). Net income: JP¥11.2b (up 158% from 1Q 2024). Profit margin: 26% (up from 12% in 1Q 2024). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 2% per year. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JP¥3,353, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Pharmaceuticals industry in Japan. Total returns to shareholders of 1.2% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥68.00 announced Shareholders will receive a dividend of JP¥68.00. Ex-date: 27th September 2024 Payment date: 5th December 2024 Dividend yield will be 2.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Major Estimate Revision • May 30
Consensus EPS estimates increase by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from JP¥183.8b to JP¥187.0b. EPS estimate increased from JP¥332 to JP¥396 per share. Net income forecast to grow 80% next year vs 7.1% growth forecast for Pharmaceuticals industry in Japan. Consensus price target up from JP¥4,920 to JP¥5,150. Share price fell 2.1% to JP¥3,820 over the past week. Announcement • May 25
Tsumura & Co. to Report Q1, 2025 Results on Aug 05, 2024 Tsumura & Co. announced that they will report Q1, 2025 results on Aug 05, 2024 Reported Earnings • May 11
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: JP¥220 (up from JP¥216 in FY 2023). Revenue: JP¥150.8b (up 7.7% from FY 2023). Net income: JP¥16.7b (up 1.4% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) exceeded analyst estimates by 2.1%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 11
Tsumura & Co., Annual General Meeting, Jun 27, 2024 Tsumura & Co., Annual General Meeting, Jun 27, 2024. Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥4,392, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Pharmaceuticals industry in Japan. Total returns to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥6,974 per share. Price Target Changed • Mar 22
Price target increased by 18% to JP¥3,857 Up from JP¥3,257, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥4,000. Stock is up 54% over the past year. The company is forecast to post earnings per share of JP¥205 for next year compared to JP¥216 last year. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.2%). Lower than average of industry peers (2.3%). Announcement • Mar 15
Tsumura & Co. to Report Fiscal Year 2024 Results on May 09, 2024 Tsumura & Co. announced that they will report fiscal year 2024 results on May 09, 2024 Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥3,266, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Pharmaceuticals industry in Japan. Total loss to shareholders of 3.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥2,010 per share. Major Estimate Revision • Feb 14
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥168 to JP¥196. Revenue forecast steady at JP¥151.5b. Net income forecast to shrink 3.3% next year vs 16% growth forecast for Pharmaceuticals industry in Japan . Consensus price target broadly unchanged at JP¥3,257. Share price fell 5.7% to JP¥2,767 over the past week. Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥94.10 (vs JP¥52.17 in 3Q 2023) Third quarter 2024 results: EPS: JP¥94.10 (up from JP¥52.17 in 3Q 2023). Revenue: JP¥40.5b (up 9.6% from 3Q 2023). Net income: JP¥7.15b (up 79% from 3Q 2023). Profit margin: 18% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 5% per year. Announcement • Dec 29
Tsumura & Co. to Report Q3, 2024 Results on Feb 06, 2024 Tsumura & Co. announced that they will report Q3, 2024 results on Feb 06, 2024 Major Estimate Revision • Nov 15
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥188 to JP¥168. Revenue forecast unchanged from JP¥150.9b at last update. Net income forecast to grow 5.5% next year vs 6.6% growth forecast for Pharmaceuticals industry in Japan. Consensus price target of JP¥3,223 unchanged from last update. Share price was steady at JP¥2,793 over the past week. Reported Earnings • Nov 08
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: JP¥61.52 (down from JP¥68.77 in 2Q 2023). Revenue: JP¥38.3b (up 7.2% from 2Q 2023). Net income: JP¥4.67b (down 11% from 2Q 2023). Profit margin: 12% (down from 15% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 22%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Oct 24
Price target decreased by 7.9% to JP¥3,223 Down from JP¥3,500, the current price target is an average from 3 analysts. New target price is 22% above last closing price of JP¥2,633. Stock is down 14% over the past year. The company is forecast to post earnings per share of JP¥188 for next year compared to JP¥216 last year. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥32.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 05 December 2023. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.2%). Price Target Changed • Sep 08
Price target decreased by 7.9% to JP¥3,223 Down from JP¥3,500, the current price target is an average from 3 analysts. New target price is 18% above last closing price of JP¥2,736. Stock is down 13% over the past year. The company is forecast to post earnings per share of JP¥199 for next year compared to JP¥216 last year. Announcement • Sep 03
Tsumura & Co. to Report Q2, 2024 Results on Nov 07, 2023 Tsumura & Co. announced that they will report Q2, 2024 results on Nov 07, 2023 New Risk • Aug 05
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.9% Last year net profit margin: 15% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (9.9% net profit margin). Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥56.87 (vs JP¥86.69 in 1Q 2023) First quarter 2024 results: EPS: JP¥56.87 (down from JP¥86.69 in 1Q 2023). Revenue: JP¥37.0b (up 7.6% from 1Q 2023). Net income: JP¥4.33b (down 35% from 1Q 2023). Profit margin: 12% (down from 19% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. Co-COO & Director Kei Sugii was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 31
Tsumura & Co. to Report Q1, 2024 Results on Aug 03, 2023 Tsumura & Co. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 10
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥216 (down from JP¥246 in FY 2022). Revenue: JP¥140.0b (up 8.1% from FY 2022). Net income: JP¥16.5b (down 13% from FY 2022). Profit margin: 12% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 09
Tsumura & Co., Annual General Meeting, Jun 29, 2023 Tsumura & Co., Annual General Meeting, Jun 29, 2023. 
